Import and export demand for primary materials, secondary materials and waste may decrease in certain economies. As well as JUST, we are introducing several innovations in the different phases of the procurement process: Stronger sustainability criteria when evaluating qualifications, Shared development plans to measure suppliers growth in relation to sustainability themes, The alignment of market intelligence tools with the co-design of technical specifications, focusing on social, economic, environmental and sustainable balance, The adoption of award mechanisms and sustainability bonuses for tenders, Thanks to a series of sharing and discussion tools, suppliers can contribute their ideas and put forward solutions to the technological challenges which we periodically launch, taking part in a joint effort towards the energy transition. [. In other words, the establishment of circular economic processes emphasizes the need to adopt an integrated and cross-cultural view with respect to all relevant dimensions (economic and non-economic), following a long-term perspective and a circular approach in resource use. Geisendorf, S.; Pietrulla, F. The circular economy and circular economic concepts: A literature analysis and redefinition. Who will benefit from the transition to the Circular Economy? Links between sustainabilityRelated awareness and behavior. Pagell, M.; Wu, Z. Building a more complete theory of sustainable supply chain management using case studies of ten exemplars. A gap exists with regard to the relevance of stakeholder engagement in the promotion of a sustainability culture according to circular economy principles; little is known about the role played by the establishment of dialogue and listening relations among stakeholders in promoting sustainable values, principles, and behaviors. This 6-part series took a deeper dive into the specific challenges and opportunities related to the transition to a circular economy for key issue areas including: the built environment; critical metals and minerals; electronics; packaging; food & agriculture; and fashion & textiles. It explores how the transition towards a circular economy can contribute towards the SDGs (UN Sustainable Development Goals) in Africa. ; Calton, J.M. There are three main factors that companies must navigate in transitioning from linear to circular business models: value, access and process (VAP). However, some aspects still need to be addressed, such as the reduction of downstream emissions caused by the burning of products. Salvioni, D.M. In this context, there is an imperative need to move on from the traditional linear economic model (take-make-dispose) and adopt sustainable alternatives such as the waste hierarchy and circular economy approaches. Sustainability. First, the transition to a circular economy should leave no one behind. the production of chemicals from renewable resources; the production of biofuels, which are not derived from fossil sources unlike traditional fuels but rather from biomass of vegetable origin; the production of biomethane through recovery of biomass and waste from agricultural and livestock production chains; the use of hydrogen in the transport sector, considering the benefits in terms of emissions reductions; the installation of electric charging points at service stations in order to promote electric mobility; the introduction of a special car-sharing service aimed at reducing the private vehicle fleet, relieving traffic congestion, and improving the quality of life for those who live and work in urban areas; and. Innovation anchored to tradition: a forward-looking company that stays faithful to its history and to its non-negotiable values, such as integrity, respect for people and environmental protection. Delery, J.E. Moreover, Eni is a leader in stakeholder engagement, demonstrating that this approach can actually contribute to the diffusion of a strong sustainability culture at every corporate level; in this regard, this study is based on a broad meaning of sustainability culture, mainly relating to the efforts spent and general results achieved, even if some flaws still need to be addressed. This session explored the main barriers delaying the transition towards a circular economy in the textiles industry. Dyer, W.G. 1. Towards a circular economy: Key drivers - OECD iLibrary Revisiting Keynes in the Light of the Transition to Circular Economy Accordingly, studies on the CE are especially relevant for the scientific community, environmentalists, and policymakers. Ph.D. Thesis, University of British Columbia, Vancouver, BC, Canada, May 2004. For instance, companies responses have been classified according to stakeholders demands to distinguish firms following reactive, proactive, and interactive approaches of stakeholder engagement [, Other studies have focused on assessing stakeholder impacts on creating long-term success conditions, especially in terms of competitive advantage [, Stakeholder engagement has been also investigated with reference to the specific role played by each stakeholder within the value creation process, distinguishing between internal and external parties as well as between primary and secondary actors [. It simply makes social and economic sense to make better use of scarce resources by designing a system to avoid waste and keep materials in use for longer. What we need is systemic change, so that sustainability doesn't only depend on consumer choices. Rather than retired items going into landfills, they will be recovered in some way and used . Supplier engagement should promote the sharing and alignment of values between suppliers and customers in order to ensure that procurement takes place according to the principles of circularity and sustainability (e.g., preferring renewable and low-impact socio-environmental resources). Best practice case studies were highlighted to demonstrate practical action taken by companies to reduce the environmental and social impacts of their textile products (e.g., clothing and household textiles). The transition to a circular economy is essential to address the triple threat of pollution, climate change and biodiversity loss. Fineman, S. Emotional subtexts in corporate greening. ; Wicks, A.C. Freeman, R.E. For Before assessing Enis stakeholder engagement and the related impact on the culture of sustainability, the attention was focused on the companys commitment to circular economy. Zaheer, A.; Bell, G. Benefiting from network position: Firm capabilities, structural holes and performance. Analysis and synthesis, comparative analysis and . While COVID-19 made a significant dent in global consumption, it's not a clear-cut picture. ; Wicks, A.C.; Pamar, B.L. Carter, S.M. ), engaging responsible suppliers, supporting the creation of experience and skills relevant to the circular economy field through the introduction of specific measures (joint research, economic incentives, cost sharing, etc. The effort starts from relations with employees and extends to those with local communities, governments, suppliers and commercial partners, as well as to security activities and workers rights, The integration of the respect for human rights is a constantly evolving process: thats why we are committed to continuous improvement and we believe that transparency and accountability support our efforts to safeguard and spread a human rights cultureClaudio Descalzi, CEO, Eni, Eni has long been committed to promoting a constant, open and transparent dialogue on climate change issues, which are an integral part of its strategy and are therefore communicated to all stakeholders. Data and research on resource productivity and waste including environmentally sound management of waste, trade of recyclables, critical metals in mobile phones, transboundary movement of waste., This project provides policy guidance on resource efficiency and the transition to a circular economy. We are also signed up to Global Compact Lead, an initiative for international companies that the Global Compact believes are capable of playing a leading role in the world when it comes to sustainable development, including by actively promoting the SDGs. There is a clear economic case for this model for large machines such as photocopiers, MRI scanners or agricultural equipment. Promoting a Just Transition to an Inclusive Circular Economy This approach involves surveys, focus groups, meetings with selected stakeholders, public meetings, and workshops; Negotiate: limited two-way engagement occurs via discussions on specific issues or a range of issues aimed at reaching a consensus. positive feedback from the reviewers. Examining attitudes towards corporate social responsibility dialogue and engagement processes. The circular economy aims to reduce our reliance on virgin ecological resources by keeping materials in use indefinitely. Accelerator session: International Financing and Funding for World Circular Economy Business Opportunities. In 2001, Eni was the first Italian business to sign up to the Global Compact, an initiative encouraging companies around the world to adopt sustainable policies, document their progress, follow the universal principles of sustainability and support the UNs Sustainable Development Goals (SDGs). Our Common Future, General Assembly Document A/42/427. In particular, the reuse of products implies that consumers are transformed into potential suppliers. 5 circular economy business models for competitive advantage | World Since previous research mostly focused on specific aspects, dealt with in a rather isolated manner, this study contributes to a comprehensive and theoretical understanding of the relations between the circular economy, stakeholder engagement, and sustainability culture. The exercise has been made for evaluating the effects of such process for the sustainability of the global economy and society. The approach should consider not only the economic effects, but also the social and, in particular, the environmental ones. In a world where people in the richest countries consume 10 times as much as the poorest, there is a need for many of us to consume less and many others to consume more. What is a circular economy? | Ellen MacArthur Foundation Erkul, M.; Yitmen, I.; Celik, T. Dynamics of stakeholder engagement in mega transport infrastructure projects. ; Lee, J.H. A proposal based on the analytic network process. ; Zairi, M. Cultures for continuous improvement and learning. Through the current research, the authors intend to demonstrate how stakeholder engagement, with respect to circular economy principles, promotes the diffusion of the sustainability culture by involving different and interconnected fields and creating long-term value. This does not mean that there are no sustainability areas that need to be improved; indeed, Enis environmental dimension should be enhanced in terms of reducing downstream emissions caused by the burning of their products. In this regard, many studies have underlined the direct relationship between the fulfillment of non-economic expectations and optimization of value creation opportunities for shareholders [. International trade will play a key role in delivering this transition, as no single country can achieve a circular economy alone. ; Gennari, F.; Bosetti, L. Sustainability and convergence: The future of corporate governance systems? It is also crucial that the transition protects the world's poor and vulnerable. A Just Transition. We believe in long-term partnerships with the countries and communities where we operate, to create lasting value for everyone. But the reward a world where people, nature and economies can all thrive will be worth the effort. Sponsorship of Consumers Associations initiatives on sustainability and circular economy. Stakeholder impact analysis of infrastructure project management in developing countries: A study of perception of project managers in state-owned engineering firms in Vietnam. 17 innovations accelerating the transition to a circular economy Apr 1, 2021 London-based company Biohm creates building materials - like these panels - from mushrooms, orange peel, cocoa husks and other food waste. Introduction The Circular Economy (CE) is a concept intended to benefit the environment and humankind. Enis human resources, including national and international labor unions; local communities and community-based organizations; national, European, and international institutions; voluntary organizations and category associations. Here's what's needed to build a circular economy. Haas, W.; Krausmann, F.; Wiedenhofer, D.; Heinz, M. How circular is the global economy? ; Mourik, R.M. Introduction. Eni for 2019. Their engagement may promote the establishment of innovative processes aimed at reducing negative impacts on the ecosystem. Low-carbon practices consist of the use of tools and techniques to reduce carbon footprints according to specific managerial practices which have been mainly identified [. At this pivotal moment, WRI President & CEO Ani Dasgupta will share insights into our predictions for the big stories coming up in 2023, including what actions governments, businesses, institutions and people must take to get the world on the right path. 1987. During the World Circular Economy Forum (WCEF) 2023 in Helsinki, environment focussed directors from the leading Multilateral Development Banks (MDBs) met to discuss the topic of the circular economy for the first time. The European Commission adopted the new circular economy action plan (CEAP) in March 2020. Mitchell, J.R.; Mitchell, R.K.; Hunt, R.A.; Townsend, D.M. Materials and Methods. Unlocking finance for a circular and regenerative economy. For any questions about the Transitioning to a Circular Economy series, please contact Robert Mitton, Project Manager (Climate Action), We use cookies to improve your experience on our website some are strictly necessary to operate our site, and others are optional. This research received no external funding. You can unsubscribe at any time using the link in our emails. PDF International Trade and the Transition to a Circular Economy - OECD The interaction of top management group, stakeholder and situational factors on certain corporate reputation management activities. The key will be scaling this model and extending it to a far broader range of consumer-facing products. Streaming services are another example of consuming better without necessarily making sacrifices. Towards a managerial practice of stakeholder engagement: Developing multi-stakeholder learning dialogues. Please note that many of the page functionalities won't work as expected without javascript enabled. Salvioni, D.M. In. Eni. Africa. We highlighted the risks of continuing with the current production and consumption patterns and demonstrated how the transition to a circular economy can benefit businesses, the planet, and society. Tolkamp, J.; Huijben, J.C.C.M. Marens, R.; Wicks, A. ; Astori, R. Corporate governance and global responsibility. What can business do to improve the UKs performance on the SDGs? The report evaluates the Bank Groups cohesion across its institutionsWorld Bank, IFC and the Multilateral Investment Guarantee Agency (MIGA), as well as its collaboration and partnerships with other actors to support better outcomes for client MSWM needs. Available online. Eni sells gas, electricity, liquid natural gas, and oil products in European and extra-European markets. Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. In this regard, there is an increasing need to shift away from behaviors based on the take and discard logic [, The circular economy model is internationally recognized [, The above-mentioned conditions underline the close relationship between the circular economy and the corporate culture; the latter refers to the elementary and essential conditions to promote the effective implementation of the company leaders vision within the entire organization according to the tenets of sustainability [, Some scholars have demonstrated how effective implementation of a companys strategyespecially in the environmental arenais based on specific conditions, such as a participative open culture, a learning environment, and the alignment of values throughout the organization [, In this context, it is recognized that changes in the corporate culture are necessary to practice the previously mentioned principles and that these changes can be effected through improvements in key stakeholder relationships via wide engagement and strong awareness about safeguarding ecosystems, using resources prudently, and protecting community health. They are all useful approaches but need to be revised according to an integrated perspective in order to address different topics closely intertwined. Cohen, J.R.; Simnett, R. CSR assurance services: A research agenda. In particular, each stakeholder is distinguishable for their specific contribution to the diffusion of the sustainability culture, depending on their positioning with respect to the company (i.e., the stakeholder may be either internal or external) and the role played within the community. and A.A.; data curation A.A.; writingoriginal draft preparation D.M.S. Circular Economy Week 2023: Accelerating the Transition to Waste-Free . You can find more information about the cookies we use on our Cookie Policy. [, The main stages of the research are depicted in. An assessment of material flows, waste production and recycling in the European Union and the world in 2005. When you visit the Site again, the cookies allow us to recognize your browser. Almici, A. It is one of the main building blocks of the European Green Deal, Europe's new agenda for sustainable growth. Indeed, a strong culture of sustainability implies the concurrent enhancement of economic, social, and environmental dimensions, which can be expressed by the companys decision to disclose these issues through specific sustainability indicators. Corporate governance, ownership and global markets. This analysis represented a fully inclusive project to allow the broadest possible participation, with a survey in 11 languages (). Thus, the engagement of key stakeholders according to the integration of the different involved interests is essential to drive actors toward suitable behaviors encouraging new supply, consumption, and labor arrangements; novel uses of services and products; and the establishment of new business models. The stakeholder theory of the corporation: Concepts, evidence and implications. Clothing sales plummeted, but home office and exercise equipment purchases went up; spending in the hospitality industry went down, but groceries increased. Thus, the commitment and willingness to improve all the dimensions affected by a companys activities depend on its cultural framework and the awareness that the optimization of economic performance is closely linked to environmental and health protection. The importance of stakeholder engagement continues to grow, given its relevance as an approach that supports the success of a circular economy model and the establishment of a sustainability culture, which assumes a broad meaning in this study. In particular, Eni has developed its circular economy strategy by adopting specific measures, including. Given these new requirements for value creation related to the circular economy model, companies should seek opportunities to invest in the creation of durable relationships with their relevant stakeholders, thereby promoting a culture that enhances both economic and non-economic aspects. Managing for stakeholders: The role of stakeholder-based management in project process. ; Camargo Oliva, E.; Keyso de Miranda Kubo, E.; Parente, V.; Tanaka, K.T. Consumer awareness of sustainability is on the rise globally, with the majority of consumers saying they expect brands to do what is right. The Independent Evaluation Group evaluates the work of the World Bank Group to find what works, what doesn't, and why. Intangibles, global networks & corporate social responsibility. A Habermasian model of stakeholder (non)engagement and corporate (ir)responsibility reporting. Marans, R.W. () establishment with the CNR of 4 research centres in Southern Italy for sustainable environmental and economic development in Italy and worldwide. One of the strongest policies is in Kenya, where 80% of the population stopped using single-use plastic bags after the government introduced a ban in 2017. Stakeholder accountability or stakeholder management: A review of UK firms social and ethical accounting, auditing and reporting practices. For most companies the stretch is large . Rossignoli, F.; Lionzo, A. Kolk, A. Making the shift to a circular economy won't be easy. This online event effectively combines three edie webinars into a single afternoon, with each webinar session . The directors recognised the value of collaboration between the MDBs on the circular economy, and agreed that their institutions should continue to work together, including via the Circularity Exchange Network (CEN) - a group initiated by Circle Economy and the Dutch Ministry of Infrastructure & Water Management that also consists of the Ellen MacArthur Foundation, UNEP-FI and the World . Available online: Fraj-Andres, E.; Martines-Salinas, E.; Matute-Vallejo, J. Circular Economy | NIST Hillman, A.J. Indeed, positive stakeholder relationships are necessary for long-term value creation; they enable a company to listen to and engage with relevant stakeholders as well as diffuse values and principles aimed at protecting all the dimensions (economic, social, and environmental). Mycocycle is applying fungi to remove toxins from landfill waste, converting trash into new bioproducts. It allows the website to recognise your device and store some information about user preferences or past actions. The current research aims to analyze how the stakeholder engagement approach supports the convergence toward the circular economy model and simultaneously promotes a change in corporate culture with regard to the principles of sustainability and global responsibility. You are accessing a machine-readable page. With reference to the engagement of its employees, Eni states that, In 2019, Eni completed the fourth edition of the climate analysisEni secondo te. Barone, E.; Ranamagar, N.; Solomon, J.F.